Companies use business strategy to gain competitive advantage in the industry by exploiting their core competencies. These rare resources and capabilities provide unique and premium value to customers. Ryanair uses a focused cost leadership strategy. They reduce operational costs to formulate the lowest possible unit cost and provide low-cost products and services for a specific customer segment. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get Original Essay Ryanair has tried to stand out in the competitive market by providing low cost transportation service for the target customer segment. While other companies competed for their competitors' customers, Ryanair focused on meeting the specific needs of its customers. With their low prices, they target price-sensitive travelers, whose priority is getting the cheapest flights between destinations and who don't care as much about traditional customer services, such as meals, assigned seats and the like. travel conveniences. Ryanair has adopted many cost-conscious strategies which can be considered innovative in the airline industry, in order to gain a competitive advantage in the market. They strategically invested in new, larger aircraft during times of economic crisis and adapted the interior design to meet their needs. This contributed to economies of scale, reduced maintenance costs, higher inventories and any other unnecessary costs. They spent money only on activities and assets, which would be beneficial to their source of income and crucial to their business operations. One of their key economic decisions was the selection of destinations and choice of airports. As this represented a significant cost source, they entered into agreements with secondary airports. These airports are generally located in suburban areas of metropolitan cities with lower landing fees, which is in line with Ryanair's strategy to minimize costs. Ryanair has also focused on point-to-point service to eliminate baggage transfer costs or unintentional delays. Their marketing budget is extremely low because they are not trying to advertise their services but trying to focus on comparing their low prices to their competitors. They outsource many of their operational services to contracted service providers to reduce additional costs. Ryanair uses the reverse costing approach and offers other airlines to pay for advertising on the exterior design of their planes. Catering service companies that had a contract with them had to share a portion of their sales with Ryanair in exchange for information and data to analyze demand trends. By eliminating traditional aircraft catering, they reduced food waste and associated costs, allowing them to increase their seat capacity and increase the volume of duty-free products, which were important to their bottom line. business. Modern technology and changing customer needs have forced Ryanair to move to the online system. They have created a business website where customers can book flights or other accommodations. With this change, they eliminated intermediary costs, such as travel agencies, and were able to initiate pricing based on real-time demand. Ryanair has used numerous/